Technical Analysis of Indian Equities by Nooresh

DLF – Will the Downtrend Reverse Going Ahead ?

This is one stock and sector which i have tried to avoid for very long but for now the formation looks pretty interesting.

DLF Technical View

Blog Dlf

  • The recent bottom was at the channel lows.
  • The downward channel resistance has been taken out in last few sessions.
  • It can even be considered as an inverted head and shoulder.
  • There are 3 tops around the 120 mark which will act resistance.
  • Stock is consolidating around the 120 mark. Supports at 115-117.
  • Next resistance at 145-150.
  • Further long term trend can change if it crosses 150.

Disclosure - The stock has been recommended in Technical Traders Club at 120-121.


Nooresh Merani

Securities covered above:: DLF

SEBI Registration disclosure – Investment Adviser ( INA000002991)

Financial Interest:

Nooresh Merani and his family/associates/ analysts do not have exposure in the securities mentioned in the above report/article.

Nooresh Merani and his family/associates/ analysts do not have any financial interest/beneficial ownership of more than 1% in the company covered by Analyst.

Nooresh Merani and his family/associates/ analysts have not received any compensation from the company/third party covered in the above report/article ever.

Nooresh Merani and his family/associates/ analysts has not served as an officer, director or employee of company covered in the report/article and has not been engaged in market-making activity of the company covered in the report/article.

The views expressed are based solely on information available publicly and believed to be true. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision

Also read the detailed disclaimer –

Article by Nooresh Merani

Nooresh has written 2717 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 0 comments… add one }

Leave a Comment